Sunglasses Shop, Europe's largest online retailer of designer sunwear, has been acquired by the parent company of Glasses Direct, Prescription Eyewear, for an undisclosed sum.
According to Glasses Direct the two companies, which will operate separately, attract more than eight million unique visitors annually and sell nearly a quarter of a million pairs of sunglasses a year.
Sunglasses Shop sells plano and prescription sunglasses as well as prescription frames from brands such as Ray-Ban, Oakley, Gucci, Serengeti, Tom Ford and Maui Jim.
Glasses Direct chief executive officer Kevin Cornils said: 'Sunglasses Shop is the clear leader in the sunglass market, with an unbeatable selection of over 8,000 frames, all of which are carried in stock and available for guaranteed next-day delivery.'
He added that Sunglasses Shop had 'unrivalled knowledge of performance and sports sunglasses' as well as being a source of celebrity news and fashion advice, which he said were 'all key elements for the sunglasses market'.
'Working with Sunglasses Shop is part of our ongoing strategy to have the best in class proposition in all segments of the online eyewear market,' said Cornils.
The company, which is based in Southend-on-Sea, recently expanded its business across Europe with sites in 12 languages. Daniel Puddick, Sunglasses Shop managing director and founder, said: 'Working closely with the management team and investors at Glasses Direct will allow us to greatly accelerate our plans to grow our business in the UK, as well as expand our European business where we believe there is tremendous opportunity.'
The combined businesses will have over 100 staff based in London, Swindon and Southend-on-Sea. Glasses Direct's existing venture capital investors Index Ventures, Highland Capital Partners and Acton Capital Partners all contributed to the transaction.